AppLovin (NASDAQ:APP) CEO Arash Adam Foroughi Sells 50,000 Shares

AppLovin Corporation (NASDAQ:APPGet Free Report) CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the sale, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arash Adam Foroughi also recently made the following trade(s):

  • On Thursday, March 12th, Arash Adam Foroughi sold 40,704 shares of AppLovin stock. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40.

AppLovin Trading Up 2.1%

Shares of NASDAQ APP traded up $9.34 on Friday, reaching $458.67. 3,786,870 shares of the company traded hands, compared to its average volume of 5,860,974. The company has a 50 day moving average of $494.31 and a 200 day moving average of $573.31. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61. The stock has a market capitalization of $154.70 billion, a PE ratio of 47.04, a P/E/G ratio of 0.79 and a beta of 2.51.

AppLovin (NASDAQ:APPGet Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. AppLovin’s revenue was up 66.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. On average, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Institutional Trading of AppLovin

Hedge funds have recently made changes to their positions in the stock. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. grew its position in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $27,000. Chilton Capital Management LLC acquired a new stake in shares of AppLovin during the 3rd quarter valued at approximately $29,000. Finally, Activest Wealth Management raised its position in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APP. Oppenheimer decreased their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Jefferies Financial Group reduced their target price on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, Scotiabank raised their price target on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $654.50.

Check Out Our Latest Report on APP

Key Stories Impacting AppLovin

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AppLovin Company Profile

(Get Free Report)

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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Insider Buying and Selling by Quarter for AppLovin (NASDAQ:APP)

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